Today we have the release of The Institute of Supply Management Purchasing Managers’ index, with results reflecting the expectations of purchasing managers in the Manufacturing sector. This indicator is the first of two precursory indicators which give an insight into the potential outcome of this week’s big event; the Non-Farm Payroll.
Investor Notes: ISM Manufacturing PMI, 1400 GMT.
- The Philly Fed and Empire State Manufacturing indices, which measure regional managers’ expectations of future business conditions, both posted positive results.
- The May reading for PMI was revised upwards from 53.2 to 55.4, which represented another consecutive month of growth, beating April’s reading of 54.9.
- The Preliminary reading for Manufacturing PMI increased by 1.1 points representing the fastest pace of expansion since 2010.
- The PMI for June is predicted to post another gain with a forecasted reading of 55.6.
- Banc De Binary analysts predict that there will be a rise in the PMI reading, indicating a potential upward movement in the USD/JPY.